Anyone writing the history of the South African property market in the next decade or later will probably list the Victoria & Alfred Waterfront as the outstanding success of the last 30 years, says Lanice Steward, managing director of Anne Porter Knight Frank, the Cape Peninsula estate agency and, she says, APKF have decided to target the Waterfront as a priority market.
 
Steward, who has travelled overseas regularly and visited many waterfronts, said that she agrees with those architectural commentators who say that the V & A Waterfront is on a par with the world’s best. 
 
“It could,” she said, quite easily be described as the best,” she says, “but its prices are greatly discounted compared to those elsewhere in the world.”
 
The Waterfront’s charm and success, she said, stem, in Steward’s view, from five main factors.
 
“The first is that its developers cleverly preserved its older buildings in a way that, despite refurbishment, kept their authenticity and Victorian-cum-nautical character.
 
“Secondly, its public open spaces have a human scale – they are small enough to promote a feeling of community and fellowship.  They enable people to meet, mingle and talk without feeling out of touch with their surroundings.
 
“Thirdly, the Waterfront has many exclusive five star hotels such as the “One & Only”, “Cape Grace”, “Victoria & Alfred” and “The Bay” – all internationally competitive – and with a retail mix of more than 250 shops, some displaying internationally recognised fashion brands, it provides high level shopping.  It also, however, attracts the suburban shopper, some from far afield.  They come looking for day to day groceries, clothing, restaurants or a place to hold business meetings.
 
“Fourth, the entire precinct has an atmosphere of genuineness:  by allowing the ship repairers, fishing boat fleets and visiting liners to continue to operate here, the developers preserved the working harbour vibe – and ensured that visitors would always have interesting commercial harbour activities to watch. 
 
“Fifth, and finally, security, especially at the marina, has been a key bonus for visitors and those looking for an exclusive property in Cape Town.”
 
The APKF Waterfront specialist, Catherine Timotei, says that the Waterfront has attracted both foreigners looking for a lock up and go home in the famous precinct and locals, who appreciate it as a permanent place to live and, often, work.
 
Timotei says that the Waterfront has apartments from R3,5 million to R40 million, all constructed to high standards and with good finishes, excellent insulation and, in most cases, superb views. 
 
“The drawcard at the moment is that prices are at a very low level and present a wonderful opportunity for people to buy here and enjoy the V & A lifestyle – knowing, too, that they have made a sound investment.”
 
For further information contact Catherine Timoteion 021 438 7338 or email catherine.timotei@anneporter.co.za.